Applications and data of all types are moving the cloud. One of the fastest growing areas of this movement is Software-as-a-Service (SaaS) offerings. IDC predicts that SaaS enterprise applications will be a $50.8 billion market by 2018. Cloud and SaaS are perfectly suited for the mobile, 24x7 world that we live in.
To keep up with the fast-paced, competitive market, your business processes need to be kept up-to-date. One area that you should consider moving to a SaaS, cloud based solution are your financial systems. And here are 6 reasons why.
1. Anywhere, anytime access to all of your financial data from a single application.
When you move your financial and back-office applications to the cloud, you have constant access to your business-critical data. Key stakeholders and business leaders can get to the data they need when they need it to make informed decisions.
2. Remaining with the status quo actually costs you money.
Running disparate systems with manual business processes takes additional time. As a result, your team is not as productive as they could be. Automating these processes through cloud software can eliminate the need to hire more employees, as well as enable your existing team to be more strategic.
3. Get what you need without going to IT
Modern financial applications are intuitive. They no longer require specialists to access data or customize reports. Enabling your managers to access the data they need and allowing them to be more self-sufficient reduces the bottlenecks in the finance department.
4. Eliminate barriers to growth.
Your enterprise financial systems can scale as quickly as you need to. The cloud is specifically designed to be scalable without having to purchase a lot of extra equipment, you simply add licenses. This can get you out of the business of managing and maintaining the infrastructure, which further reduces costs and allows you to focus on your business.
5. The cloud is more secure and compliant, not less.
Questions of security have always surrounded financials, and this intensified when moving to the cloud. Quality cloud providers hold SASE Certifications that are beyond the reach of most organizations to attain in-house. They provide strict physical security and robust threat-assessment models. Because of the certifications and auditing, you can remain compliant with PCI regulations or Sarbanes-Oxley.
6. Improved cash flow and customer service.
Cloud applications can help you get paid quicker with online invoicing, payment options, and customer self-service tools. Customer service is improved because customers do not have to contact multiple team members or wait for someone to help them.
Moving financials to the cloud just makes sense.
Legacy systems that are report-driven and make you pull together multiple data silos can force you to run your company looking in the rear-view mirror. Business today needs to be forward-thinking and agile. When an opportunity presents itself, are you putting your organization in the best position to capitalize?
Take back control of your business and prepare for growth. To help you, we have prepared this eBook, Data Driven Success: Getting the Most Out of a Modern ERP. Click here to download your copy today.